Verod Cap­i­tal ac­quires mi­nor­ity stake in Nige­ria's Green­springs Ed­u­ca­tional Ser­vices

Financial Nigeria Magazine - - Finance -

Verod Cap­i­tal Man­age­ment, a lead­ing pri­vate eq­uity firm based in Nige­ria, has agreed to ac­quire a mi­nor­ity stake in Green­springs Ed­u­ca­tional Ser­vices.

The fund man­ager said the in­vest­ment – which will be ex­e­cuted through its Oreon Ed­u­ca­tion in­vest­ment ve­hi­cle – will en­able Green­springs re­struc­ture its cap­i­tal base and fund growth ini­tia­tives.

Founded in 1985, Green­springs pro­vides pre-pri­mary, el­e­men­tary, sec­ondary and post-sec­ondary school­ing for both day and board­ing stu­dents. The school has a blended cur­ricu­lum that pre­pares stu­dents for both lo­cal and in­ter­na­tional en­trance ex­ams. Green­springs' cam­puses in An­thony and Lekki (both in Lagos, Nige­ria) has grown from 3 to 2,270 stu­dents.

Verod said its Oreon Ed­u­ca­tion ve­hi­cle was set up to take ad­van­tage of the con­tin­ued growth in de­mand for qual­ity K‐12 ed­u­ca­tion in West Africa. The pri­vate eq­uity firm said Nige­ria pos­sesses an at­trac­tive mar­ket for K-12 ed­u­ca­tion given the coun­try's de­mog­ra­phy, grow­ing mid­dle class, and in­ad­e­qua­cies of pub­lic ed­u­ca­tion.

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